Quebec Pension Plan Premiums for 2020 (January 2020)
The Quebec Pension Plan contribution rate for employees and
employers for 2020 is 5.7%, and maximum pensionable earnings are
$58,700. The basic exemption is $3,500....
Tax deadlines and limits for the 2020 tax year (January 2020)
Each new tax year brings with it a listing of tax payment and
filing deadlines, as well as some changes with respect to tax
planning strategies. Some of the more significant dates and changes
for indi...
Tax changes effective January 1, 2020 (January 2020)
Alberta The general corporate income tax rate will decrease from
11% to 10%, effective January 1, 2020. The provincial education and
tuition tax credits are eliminated as of the 2020 taxation year.
...
Claiming a deduction for union or professional dues (December 2019)
Between now and the end of February 2020, Canadians will receive a
variety of receipts for expenditures made during the 2019 taxation
year. Some of those expenditure receipts will support a tax
deduct...
Timing medical expenses for maximum tax credit (December 2019)
While Canadians benefit from a publicly funded health care system,
there are nonetheless a large, and increasing, number of medical
expenses which are not covered by provincial health care plans. As
w...
Year-end planning for RRSPs and TFSAs (December 2019)
For most Canadians, registered retirement savings plans (RRSPs)
don’t become top of mind until near the end of February, as the
annual contribution deadline (which, for 2019 contributions, will
...
The tax costs of holiday gifts and celebrations (December 2019)
During the month of December, it is customary for employers to
provide something “extra” for their employees, by way of a holiday
gift, a year-end bonus or an employer-sponsored social eve...
Looking ahead to 2020 (November 2019)
Planning for – or even thinking about – 2020 taxes when it’s not
even December 2019 may seem more than a little premature. However,
most Canadians will start paying their taxes for 2...
Planning for year-end charitable donations (November 2019)
The start of fall marks a lot of things, among them a number of
runs, walks and other similar events held to raise money for a
broad range of Canadian charities. And, within the next month, as
the hol...
Getting a fix on your retirement income (November 2019)
Most Canadians expend a considerable amount of time and effort in
order to put money aside for retirement. Especially in an era in
which the majority of workers can’t look forward to receiving a...
Taking stock of your TFSA (October 2019)
Tax-free savings accounts (TFSAs) have been around for a full
decade now, having been introduced in 2009, and for most Canadians,
a TFSA (along with a registered retirement savings plan (RRSP)) is
now...
When are legal fees deductible? (October 2019)
In most cases, the need to seek out and obtain legal services (and
to pay for them) is associated with life’s more unwelcome
occurrences and experiences — a divorce, a dispute over a famil...
Shared-custody parents and the Canada Child Benefit (October 2019)
When parents separate and divorce, it is frequently the case that
they are able to agree on an arrangement to share custody of their
children. Such a shared-custody arrangement is often to the
benefit...
Lund & Associates is pleased to announce that Theresa MacDonald, CPA, CGA, has joined our practice as of January 2, 2019. Welcome Theresa!
2018 Personal Tax Rates
Ordinary Income
Dividends (Eligible)
Dividends (Ineligible)
Capital Gains
Up to $43,000
20.05%
0%
7.81%
10.03%
$43,000 to $46,600
24.15%
0%
12.57%
12.08%
$46,600 to $75,600
29.65%
6.39%
18.95%
14.83%
$75,600 to $86,000
31.48%
8.92%
21.07%
15.74%
$86,000 to $89,100
33.89%
12.24%
23.87%
16.95%
$89,100 to $93,200
37.91%
17.79%
28.53%
18.95%
$93,200 to $144,500
43.41%
25.38%
34.91%
21.70%
$144,500 to $150,000
46.41%
29.52%
38.39%
23.20%
$150,000 to $205,800
47.97%
31.67%
40.20%
23.98%
$205,800 to $220,000
51.97%
37.19%
44.842%
25.98%
Greater than $220,000
53.53%
39.94%
46.65%
26.76%
2018 Corporate Tax Rates
CCPC up to $500,000
13.50%
Ordinary corporate income
26.50%
Manufacturing and processing corporate rate
25.00%
Investment income
50.17%
Refundable portion of tax on investment income
30.67%
Net of refundable on investment income
19.50%
Dividend refund
38.33%
Tax on portfolio dividends
38.30%
Dividend gross-up (eligible)
38.00%
Dividend gross-up (ineligible)
16.00%
A New Consulting Division at Lund & Associates …
Services Relating to the Sale of a Business
We are excited to announce that we are expanding at Lund & Associates to include a consulting division to offer services relating to the planning for and actual sale of a business at a maximum value.
Valuing the business
Preparing the business for sale to maximize value
Minimizing risk factors for a purchaser that affect the ability to sell the business
Tax planning relating to the sale of a business
Preparing information documents to assist in the sale process
Identifying potential buyers and approaching the buyers
Assisting with the negotiation of terms to the point of a Letter of Intent
Coordinating document flow with banks/lenders involved in the business and sales transaction
Liaison with lawyers to assist in preparation of agreements
We have developed expertise in this area over several years as we have been working with owner-managers right through their business cycle from start-up to eventual sale of the business.
In most cases planning for the sale of a business should begin several years before the planned sale date.
If you, or anyone you know, are interested in discussing how we can help you prepare for the Sale of a Business, please contact Brad Lund at bradl@lundandassociates.com .
